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RAD (Refundable Accommodation Deposit) is a lump-sum payment for aged care homes. It is fully refundable when the resident leaves, as long as there are no outstanding fees.
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New voice for retirement

The Retirement Village Association (RVA) and Property Council of Australia last week announced their intention to merge to form the new leadership group – the Retirement Living Council.

The Retirement Village Association (RVA) and Property Council of Australia last week announced their intention to merge to form the new leadership group – the Retirement Living Council.

The new council will spearhead advocacy and public affairs for the industry and will comprise about 20 of Australia’s leading for profit and not for profit firms.

RVA chief executive, Andrew Giles, said the merger would “provide more benefits and a stronger future for the industry and residents”.

Ken Morrison, Property Council of Australia chief operating officer, added the new council’s role was to “place the future of retirement communities at the centre of the policy radar of every government in Australia”.

“This merger gives the industry the political muscle it has been looking for and more benefits for the whole sector,” Mr Morrison said.

Further consultation will be made with RVA members before a formal resolution is put to the AGM at the RVA National Conference next month.

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